{"id":131270,"date":"2018-08-03T10:50:25","date_gmt":"2018-08-03T14:50:25","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=131270"},"modified":"2018-08-03T06:51:23","modified_gmt":"2018-08-03T10:51:23","slug":"usdcnh-forex-analysis-deteriorating-chinese-economic-data-bullish-for-usdcnh","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/usdcnh-forex-analysis-deteriorating-chinese-economic-data-bullish-for-usdcnh\/","title":{"rendered":"USDCNH: Forex Analysis- Deteriorating Chinese economic data bullish for USDCNH"},"content":{"rendered":"
August 3, 2018<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/p>\n

Deteriorating Chinese economic data bullish for USDCNH<\/strong><\/p>\n

July manufacturing PMI for China reported by Caixin was lower than expected. Will the USDCNH <\/a> climb continue?<\/p><\/blockquote>\n

The GDP report in mid-July indicated China\u2019s economy slowed in the second quarter: the GDP grew at 6.7% annual rate in the second quarter of 2018 after a 6.8% growth in the first three months of the year. Two weeks later the National Bureau of Statistics of China reported the manufacturing PMI declined to 51.2 in July from 51.5 in June. The next day Caixin reported its manufacturing PMI for China slipped to 50.8 in July from 51 in June. Readings above 50 indicate expansion in sector\u2019s activities. Caixin report showed China\u2019s manufacturing sector grew at the slowest pace in eight months in July as export orders declined. Slowing economic growth is bullish for USDCNH.<\/p>\n

\"USDCNH\"<\/p>\n

On the daily timeframe USDCNH: D1 <\/b> is above the 50-day moving average MA(50) and both are rising, this is bullish.<\/p>\n